There are definitely improvements that can be made in this area. I'm all for requiring transparency about what exactly is being purchased, like the California law that requires informing the purchaser if they are buying ownership or a licence to access, or Steam's store page requirements to list all DRM, third party accounts, anti-cheat, etc. However, this initiative is vague, doesn't suggest any actual law changes, and its promoter seems to be more into the idea of data hoarding than consumer protection.

From the initiative:

Videogames themselves are unique creative works. Like film, or music, one cannot be simply substituted with another. By destroying them, it represents a creative loss for everyone involved and erases history in ways not possible in other mediums.

This has nothing to do with consumer protection. He's even said in a video that he wants the genre of gacha games to end. I play gacha games. Why does he get to prevent me from playing games I like? I thought we were protecting consumers? I feel like this cause is like the PETA organization. It's definitely a great idea in general, but they're going about it in an extreme way.